What to Expect When Selling Your Home

What to Expect When Selling Your Home

You should select a professional real estate agent to represent your needs. Once you establish a working relationship with your agent, your home is put on the market and marketed to potential buyers. Once a buyer makes an offer on your home you have three options: accept the offer, counter the offer, or reject the offer.

After you accept an offer, the following will occur:

Escrow is opened and buyer deposits "earnest money" into escrow.

Seller submits documents and information to escrow holder, such as:

addresses of lien holders

tax receipts

equipment warranties

home warranty contracts (if any)

any leases and/or rental agreements

Seller approves and signs the escrow instructions, grant deed and other related documents required to complete the transaction.

Seller orders inspections, receives clearances and approves final reports and/or repairs to the property as required by the terms of the purchase and sale agreement (responsibility for inspection procedures may vary).